Technology is constantly evolving and touches every aspect of life. It even affects the real estate industry. In fact, technology impacts every aspect of the home buying process. From searching homes online to final transactions, technology shapes it all. Here are five technologies in particular that are changing the entire real estate industry.
1. Virtual Reality
Nearly 70 percent of buyers look for homes online. Virtual reality has made looking at homes far and near more accessible and exciting. With this technology, buyers can tour properties without having to leave the comfort of their homes. Real estate agents should utilize virtual reality in combination with staging to showcase their properties to potential buyers.
2. Artificial Intelligence
Artificial intelligence, or AI, has been making its debut across multiple industries. In the real estate industry, a type of artificial intelligence known as machine learning (ML) is helping influence smarter buying decisions through pattern recognition. Machine learning involves computer learning data as opposed to being programmed to do certain tasks. This technology helps buyers discover things like when a neighborhood or property will become popular.
Want the perfect angles to showcase your properties? A drone can help with that. This technology is helping real estate agents create a story about their properties that they never have been able to before. Drones are a relatively easy and budget-friendly device that can help agents create tours of neighborhoods, spot potential problems with properties, and tour the inside of larger buildings.
4. CRM Software
Customer relationship management (CRM) software has made it easier for real estate agents to manage client relationships. They can track emails, calls, and the progress they’ve made with prospective buyers. As a result, agents can quickly identify the areas where they need to take action and make forecasts.
5. Mobile Apps
From ordering food to conducting virtual meetings, people can do nearly anything on their phones. They can even browse, buy, and sell real estate from their phone too. Mobile apps make these things easier to do. There are currently apps that have created a centralized marketplace for those involved in the real estate industry. Buyers, sellers, and real estate agents can all benefit from mobile apps.
Are You Involved in the Real Estate Industry? We Can Help
The point of these technologies is to make the process of buying and selling real estate easier. Armour Title helps make the process easier too. Our title management staff is dedicated to getting the job done right quickly and efficiently. Contact us today to learn more about how we can help you.